Big Ten is reportedly considering a 2 billion+ private equity deal to extend the grants rights 10 more years through 2046 (which would basically kill the superleague that has been discussed some). If passed, they'd essentially create a commercial entity within the Big Ten (covering media rights, sponsorships, etc.) that would have 20 shares, 2 for the private equity firm and 1 for each of the 18 schools. So the PE pays 2 billion+ now and then get their money back as the money comes in on the tv deals, sponsorships, etc. The 18 schools would get to split that 2 billion right now and would still get their annual share (though a bit less since 2 extra shares are being created). Apparently, the 2 biggest brands in the conference (Ohio State and Michigan) are a bit hesistant and the conference wants this sort of deal to be unanimous.
This type of deal is also why the Big Ten has gone coast to coast and has been very strategic about only adding teams that expand their footprint. It is all about the benjamins.